Kumar Rakesh from BNP Paribas predicts weaker auto sales in September due to Pitru Paksha, with a potential rebound in October. The passenger vehicle industry shows low single-digit growth, while the electric two-wheeler market is gradually expanding. Tractor sales are expected to improve, driven by a normal monsoon and rural economy recovery.
SBI board approves fundraising of up to Rs 20,000 crore via bonds
State Bank of India’s board has approved raising Rs 20,000 crore through Basel III-compliant bonds, leading to a share price increase of over 2%. While